Excel Physiotherapy's Debt Consolidation Loan Changed Their Business

Brent Wedesweiler

Thursday, 09 May 2019

Tim Ellis has been running a busy medical centre for over four years. Over these four years, growth has been strong.

Tim has developed a substantial client base of repeat customers, and with the help of marketing, this has been continually expanding.

The journey to success, however, hasn’t always been smooth sailing.

With Increased Growth Comes Greater Costs

Like many growing businesses, Tim has run into bumps in the road. While demand had never been an issue, facilitating this demand was not always simple.

Tim laments, “at one time I had twenty-two people on my waiting list just for an appointment”. But keeping up with customer needs meant he needed to expand, which required financing.

A move into his own premises came with commercial, staff, and building costs. It was not an inexpensive endeavour. Tim worked with his bank, as well as other lenders to source financing, but the loans were starting to stack up.

By the time doors opened, Tim was behind where he wanted to be.

“I really wanted all my systems to be good so policies and procedures and code of conduct and all that kind of thing. So, I spent a lot of time working on all of that so that when we opened our doors it would look like we've been around for a long time and did everything right. So, all that stuff I had got right, but really, I was probably like 150,000 behind where I should have been, and it was just hard.”

With Excel Physiotherapy’s doors open and client demand still growing, Tim started looking for solutions to his financing issues. It was 2018, and at this point, Tim had a range of small loan facilities, and simply needed help consolidating them so they were easier to manage.

“I was making sure all these payments were getting made each week and it was like I was a bookkeeper. All I was doing was looking after this side of things, not developing the business.”

Tim went to his bank for help.

“I just got lost in little bitty loans here and there. I approached the banks directly to say look, this is my situation. Can you help me with this?”

Unfortunately, Tim did not get very far with his bank.

“I’d speak to someone and then they’d refer me to someone else, then to someone else, then to someone else, by which time they’d kind of forgotten who you were, then you’d explain the whole thing again. Then you’d get an email with a long document that’s about 30 pages long. I was just like, this isn’t working.”

It was not until Business Connect referred Tim to Declan, Brent, and the team at Valiant that things started to turn around.

A Debt Consolidation Loan Changed The Business

After speaking to Valiant’s commercial finance team a few times, it became clear to Tim that things could be turned around.

From the first phone call, it was clear to Valiant’s commercial team that Tim’s business was strong. So, with over 10 facilities to consolidate, Valiant’s commercial team worked tirelessly to get the best possible outcome for Tim.

Find out more about your debt consolidation loan options: 1300 780 568.

After being turned away and struggling to get help so many times, Tim was thrilled that he had finally found Brent, “he had relationships with the banks, and he understood the situation… he would phone when said he was going to phone. As soon as I sent an email he’d reply with an email.”

It didn’t take long for Valiant’s commercial team to consolidate the facilities and give Tim his time back, so he could move away from bookkeeping and get back to running his business.

The consolidation not only saved Tim time and money, but it gave him the freedom to focus on his business; “It’s a consolidated financial situation now. You’ve got an additional income. That’s going to help you to expand and take it to the next level.”

And Tim couldn’t be happier, “I’m just really pleased that this has come off. I had a few moments there like, is this going to happen? Is it going to happen? I think that’s human nature but yes, it’s going to happen.”

Want to find out more about your debt consolidation loan options? Use our free loan wizard to compare loans and lenders, or give our commercial finance team a call on 1300 780 568.

Brent is the Director of Operations at Valiant, bringing a wealth of knowledge from 18 years of experience in the finance industry. He’s worked with banks and fin-techs in the consumer & commercial space, where he discovered his passion for helping SMEs.

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